Caveat_Mortgagor wrote: »
On an annual basis this figure is lower than the rate of inflation. In real terms rents are falling
spikyone wrote: »
What a ridiculous suggestion - why would you measure it against RPI/CPI inflation? Wage inflation is <2.5% and and savings rates are also, in the vast majority of cases, below the quoted 4.1% annual increase. Rents are becoming less affordable, so in real terms they are increasing.
"We've had five successive months of rent rises, but there is no sign of a let-up anytime soon. Despite several new deals on the market, securing a big enough mortgage remains a tall order for the average buyer. The climbing cost of living and renting is impacting how much renters can save for their deposit, and demand will remain high in short-term.
"In the long term, there is an even smaller chance of a significant slowdown. Just 102,570 new homes were completed last year – at a time when the UK's population increased by nearly half a million. This trend shows no signs of slowing. Excess demand will be driven into the private rental sector driving rents up further. Landlords thinking long-term will do well."
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